Queensland property sales at healthy levels
Value is returning to Queensland's residential property sector, with recent figures showing a surge in real estate sales over the last few months.
According to data from the Real Estate Institute of Queensland (REIQ), the number of units and townhouses sold in the Sunshine State lifted almost nine per cent in the December quarter, compared to the same three months in 2011.
The Market Monitor results revealed a 16 per cent increase on sales in Brisbane over the 12 months to December 2012, while the Gold Coast recorded an eight per cent rise and a 23 per cent jump in the Sunshine Coast.
State treasurer Tim Nicholls said the latest figures are an encouraging sign for the state's property market, and further confirmation that the sector is headed for a recovery.
"Today's (March 8) results add to the ever-increasing list of industry reports that show the emergence of green shoots in the sector, and the economy more broadly," Mr Nicholls remarked.
"Our policies are clearly having a positive impact."
Mr Nicholls said Queenslanders were responding positively to the reintroduced Principal Place of Residence Concession, which saves families up to $7,000 on the purchase of a home.